Global X-band radar market is expected to register a 3.4% CAGR over the forecast period.
“X Band Radar Market: Global Demand Analysis & Opportunity Outlook 2021”
The global X band radar market is segmented into product type such as mobile X band radar and sea X band radar. Among these segments, X-band radar segment is expected to occupy the top position in the market during the forecast period.
The rise of the X band radar segment is backed by its significant performance in case of small boats and its increasing number small boats across the globe,
the global X band radar market was valued at USD 4.32 Billion in 2015 and is expected to reach at notable revenue by the end of 2020. Favorable government initiatives in order to strengthen their border forces is a major factor which is likely to fuel the growth of global X band radar market over the forecast period.
The North America region segment by region stood with maximum market share in 2015. Increasing seaborne trade and increasing military expenditures are some of the major factors which are likely to allow North America X band radar market to expand at a considerable pace during the forecast period.
Increasing Security Concern
The global X band radar market is primarily driven by a number of factors such as increasing terrorism activities across the globe and increased military expenditure. These factors are anticipated to bolster the growth of global X band radar market over the forecast period.
Further, technological advancements with X band radars and their increased utilizations in defense, governments and commercial applications are also the key factors which are expected to escalate the growth of the global market of X band radars.
Growing technological advancements with X band radars to improve its working range is a major factor which is anticipated to bolster the growth of global X band radar market in near future. Further, growing fighter aircraft radar applications for X band radars is also a major factor which is likely to drive the growth of global X band radar market during the forecast period.
Apart from this, strict government regulations and congestion faced in X-band frequency due to spiked usage in commercial sector are major challenges to the growth of global market. Further, restraints from government agencies to allocate this frequency range for commercial purposes to dampen the market growth in near future.
The report titled “X Band Radar Market: Global Demand Analysis & Opportunity Outlook 2021” delivers detailed overview of the global X-band radar market in terms of market segmentation by equipment type, by application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global X band radar market which includes company profiling of Israel Aerospace Industries (IAI), Northrop Grumman., Raytheon, Reutech Radar Systems, Saab Group, Japan Radio Company Limited, Furuno Electric Co Ltd, Prosensing Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.
On the whole, the report depicts detailed overview of the global X band radar market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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